Download or read book The Federal Crop Insurance Program Can be Made More Effective written by United States. General Accounting Office and published by . This book was released on 1977 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Federal Crop Insurance Program Can be Made More Effective written by and published by . This book was released on 1977 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Effectiveness of the Federal Crop Insurance Program for Damage Done by Hurricane Opal written by United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops and published by . This book was released on 1996 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Crop Insurance written by United States. General Accounting Office and published by . This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops and published by . This book was released on 1997 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Crop Insurance written by Lisa Shames and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USDA's Risk Management Agency administers the federal crop insurance program in partnership with private insurers. In 2006, the program cost $3.5 billion, including millions in losses from fraud, waste, and abuse, according to USDA. The Agricultural Risk Protection Act of 2000 granted RMA authority to renegotiate the terms of RMA's standard reinsurance agreement with companies once over 5 years. This testimony is based on GAO's 2005 report, Crop Insurance: Actions Needed to Reduce Program's Vulnerability to Fraud, Waste, and Abuse, as well as new analyses this Committee requested on underwriting gains and administrative and operating expenses USDA paid companies. GAO discusses (1) USDA's processes to address fraud, waste, and abuse; (2) extent the program's design makes it vulnerable to abuse; and (3) reasonableness of underwriting gains and other expenses. USDA agreed with most of GAO's 2005 recommendations to improve program integrity. RMA agreed that GAO's new analyses were technically accurate. Congress has an opportunity in the Farm Bill reauthorization to grant RMA authority to periodically renegotiate the financial terms of its agreement with companies to provide reasonable cost allowances and underwriting gains. GAO reported that RMA did not use all available tools to reduce the crop insurance program's vulnerability to fraud, waste, and abuse. RMA has since taken some steps to improve its procedures. In particular: (1) USDA's Farm Service Agency inspections during the growing season were not being used to maximum effect. Between 2001 and 2004, FSA conducted only 64 percent of the inspections RMA requested. Without inspections, farmers may falsely claim crop losses. However, FSA said it could not conduct all requested inspections, as GAO recommended, because of insufficient resources. RMA now provides information more frequently so FSA can conduct timelier inspections. (2) RMA's data analysis of the largest farming operations was incomplete. In 2003, about 21,000 of the largest farming operations did not report all of the individuals or entities with an ownership interest in these operations, as required. Therefore, RMA was unaware of ownership interests that could help it prevent potential program abuse. FSA and RMA now share information to identify such individuals or entities. USDA should be able to recover up to $74 million in improper payments made during 2003. (3) RMA was not effectively overseeing insurance companies' efforts to control program abuse. According to GAO's review of 120 cases, companies did not complete all the required quality assurance reviews of claims, and those that were conducted were largely paper exercises. RMA agreed to improve oversight of their reviews, but GAO has not followed up to examine its implementation. RMA's regulations to implement the crop insurance program, as well as some statutory requirements, create design problems that hinder its efforts to reduce abuse. For example, the regulations allow farmers to insure fields individually rather than together. As such, farmers can "switch" reporting of yield among fields to make false claims or build up a higher yield history on a field to increase its eligibility for higher insurance guarantees. RMA did not agree with GAO's recommendation to address the problems associated with insuring individual fields. Statutorily high premium subsidies may also limit RMA's ability to control program abuse: the subsidies shield farmers from the full effect of paying higher premiums associated with frequent claims. From 2002 through 2006, USDA paid the insurance companies underwriting gains of $2.8 billion, which represents an average annual rate of return of 17.8 percent. In contrast, according to insurance industry statistics, the benchmark rate of return for companies selling property and casualty insurance was 6.4 percent. USDA renegotiated the financial terms of its standard reinsurance agreement with the companies in 2005, but their rate of return was 30.1 percent in 2005, and 24.3 percent in 2006. It also paid the companies a cost allowance of $4 billion to cover administrative and operating costs for 2002 through 2006. USDA recommended that Congress provide RMA with authority to renegotiate the financial terms and conditions of its standard reinsurance agreement once every 3 years.

Download or read book Hearing to Review Producers Views on the Effectiveness of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management and published by . This book was released on 2009 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recommendations and Findings to Improve the Federal Crop Insurance Program written by United States. Commission for the Improvement of the Federal Crop Insurance Program and published by . This book was released on 1989 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reforming the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on Conservation, Credit, and Rural Development and published by . This book was released on 1991 with total page 722 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Crop Insurance written by and published by . This book was released on 2007 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Waste Fraud and Abuse in the Federal Crop Insurance Program written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Review of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops and published by . This book was released on 1998 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Hearing to Review Producers Views on the Effectiveness of the Federal Crop Insurance Program written by United States House of Representatives and published by . This book was released on 2019-09-18 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hearing to review producers' views on the effectiveness of the federal crop insurance program: hearing before the Subcommittee on General Farm Commodities and Risk Management of the Committee on Agriculture, House of Representatives, One Hundred Eleventh Congress, first session, April 22, 2009.

Download or read book Hearing to Review Producers Views on the Effectiveness of the Federal Crop Insurance Program written by United States. Congress and published by Createspace Independent Publishing Platform. This book was released on 2018-01-11 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hearing to review producers' views on the effectiveness of the federal crop insurance program : hearing before the Subcommittee on General Farm Commodities and Risk Management of the Committee on Agriculture, House of Representatives, One Hundred Eleventh Congress, first session, April 22, 2009.

Download or read book Crop Insurance Considerations in Reducing Federal Premium Subsidies written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-07-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Federally subsidized crop insurance, which farmers can buy to help manage the risk inherent in farming, has become one of the most important programs in the farm safety net. Revenue policies, which protect farmers against crop revenue loss from declines in production or price, are the most popular policy type and account for nearly 80 percent of all premium subsidies. The crop insurance program's cost has come under scrutiny while the nation's budgetary pressures have been increasing. GAO was asked to look at the cost of the crop insurance program. This report examines (1) trends in federal crop insurance costs and farm sector income and wealth from 2003 through 2012 and (2) the potential savings to the government and impacts on farmers, if any, of reducing federal premium subsidies for revenue policies. GAO analyzed USDA crop insurance program data and farm sector income and wealth data from 2003 through 2012 (most recent year with complete crop insurance data); reviewed economic literature and documents from stakeholders including farm industry groups and researchers; and interviewed USDA officials. "

Download or read book Hearing to Review the Integrity and Efficacy of the Federal Crop Insurance Program written by United States. Congress. House. Committee on Agriculture. Subcommittee on General Farm Commodities and Risk Management and published by . This book was released on 2007 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Crop Insurance written by Dennis A. Shields and published by . This book was released on 2015-02-16 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.